Calculation Method for Retirement Allowance of Veterans Association of Vietnam from April 01, 2020

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In Article 4 of Circular 03/2020/TT-BLDTBXH, it is stipulated that veterans who are receiving a pension, social insurance allowance, or a monthly preferential allowance for people with meritorious services to the revolution, upon cessation of their work with the Association, will be entitled to an allowance for retiring from the Association. The calculation method is defined as follows:

Subjects as per point a and b Clause 1 Article 5 of this Circular:

Each year of participation in the Association's work entitles the veteran to a lump-sum allowance equal to half (1/2) of the current monthly salary. The current salary is the last monthly salary at the level of the Association where they are working (excluding party, socio-political organization, and official duty allowances), which includes: salary according to title, plus leadership allowance (if any), plus 5% of the re-elected or re-appointed salary according to the provisions of Guidance No. 05-HD/BTCTW dated July 1, 2011, of the Central Organization Committee (if any). The calculation is as follows:

For Vice Presidents of Commune-level Veterans Associations of Vietnam:

Each year of participation in the Association's work entitles the veteran to an allowance for retiring from the Association equal to half (1/2) of the current monthly allowance. The calculation is as follows:

The number of years of work calculated for the lump-sum allowance is the total time from when the decision to participate in the Association's work (elected, appointed, recruited) is made to when the decision to retire from the Association is issued by the authority. In cases where the veteran has intermittent participation time, it will be aggregated; if there are odd months, 6 months or more will be calculated as 1 year, and less than 6 months will be calculated as 1/2 year.

For details, refer to Circular 03/2020/TT-BLDTBXH, effective from April 1, 2020.

Le Hai

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